Market Trends of United Kingdom Veterinary Healthcare Industry
Dogs and Cats Segment is Expected to Witness Significant Growth During the Forecast Period
- The growing population of dogs and the increasing number of pet owners are boosting the UK veterinary healthcare market. This trend is driven by the rising awareness of pet health and wellness, which leads to higher spending on veterinary products such as medications and preventive care.
- Pet owners are becoming increasingly committed to their dogs and cat's health and welfare, which is expected to grow the segment. For instance, according to a report published by the FEDIAF, the European Pet Food Industry in July 2023, in the United Kingdom, there were over 13 million dogs in the country in 2022. Over 34% of the households owned at least one dog, and over 28% owned a cat.
- The advancements in technology, increasing product approvals, partnerships, and collaborations by key players are fueling the market's growth. For instance, in November 2023, Antech inaugurated a new laboratory in Warwick, United Kingdom. This initiative marks a significant expansion of Antech's existing UK laboratory network, which presently encompasses the Southfields Veterinary Specialists Diagnostic Laboratory and the Dick White Referrals Diagnostic Laboratory.
- In conclusion, the UK veterinary medicine market's growth is fueled by the increasing importance of cats and dogs in households, advancements in veterinary medicine, and expanding pet healthcare services and products.
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Vaccines Segment is Expected to Witness Considerable Growth During the Forecast Period
- Vaccines consist of inactivated or attenuated viruses, bacteria, or other pathogens that are rendered non-pathogenic, thereby enhancing immunity. Advanced vaccines now include genetically engineered elements derived from these pathogens. This segment is anticipated to be propelled by innovations in vaccine technology, heightened awareness of animal health, increased investments from government entities and organizations, and the rising incidence of infectious zoonotic diseases among companion animals.
- Key players in the country are focused on developing and launching new products to meet the growing demand for veterinary solutions. For instance, in October 2023, Zoetis unveiled CircoMax in Europe, a cutting-edge vaccine designed to combat Porcine Circovirus type 2 (PCV2). This innovative vaccine, encompassing genotypes a and b, offers an extensive shield against the PCV2 menace. CircoMax has proven its efficacy in safeguarding against PCV2a, PCV2b, and PCV2d strains.
- Similarly, in March 2023, the Biotechnology and Biological Sciences Research Council (BBSRC), part of UK Research and Innovation (UKRI), the Foreign, Commonwealth, and Development Office (FCDO), and the Bill & Melinda Gates Foundation have jointly invested over GBP 40 million (USD 50.89 million) to establish a new center at the Pirbright Institute. This initiative aims to accelerate the development of animal vaccines to combat emerging and urgent infectious diseases, promoting a One Health approach to enhance the health and well-being of both animals and humans.
- Consequently, such product launches by key industry players in the United Kingdom are expected to generate new market opportunities and drive segment growth over the forecast period.
- Moreover, rising growth strategies such as collaboration and partnership are helping boost the market's growth. For instance, in October 2023, the Centre for Veterinary Vaccine Innovation and Manufacturing (CVIM) at the Pirbright Institute signed a memorandum of understanding (MOU) with the University of Saskatchewan's (USask) Vaccine and Infectious Disease Organization (VIDO). The MOU allows for expanded collaborations and training around vaccine manufacturing to drive innovations for animal health.
- In conclusion, the UK veterinary vaccine market is poised for robust growth, driven by technological advancements and key players' increasing growth strategies.
